Tech firms suffer bloodbath as US midterms fuel AI fears
Yahoo Finance — Asian tech firms suffered a bloodbath Friday as investors tracked a collapse on Wall Street fuelled by fears that Democrats will ramp up regulation of the AI industry following their blowout victory in this week's US midterm elections.The results compounded already heightened fears about the hundreds of billions firms had pumped into the sector and when they would see a return, while the recent spike in borrowing costs also fuelled concerns about their financial position.